Insolvency Services Group (ISG) was created by an insolvency lawyer who noticed that businesses in financial distress tended to be myopic as to possible solutions – resulting from the lack of meaningful knowledge regarding alternative and creative solutions. Predictably, their limited understanding of real world options often resulted in a flight to bankruptcy – when more effective choices were available. ISG Founder Joel B. Weinberg knew from experience that bankruptcy often was not the best answer for troubled companies and their creditors. Rather, the use of receiverships and general assignments, among other tools, often provided a more effective solution for a distressed company, whether it was a straight liquidation or a going concern sale to a buyer.
ISG was founded on the conviction that the use of alternatives to bankruptcy could yield far better results for distressed companies, creditors, venture capitalists and buyers of troubled assets. Mr. Weinberg gathered like-minded professionals in a host of disciplines including turnaround managers, human resource specialists, financial analysts, accountants, and information technology and logistic specialists.
In recent years, the global downturn has increased the factors at play for American businesses. The ISG model serves the public interest by equipping the private sector with customized, cost-efficient and timely solutions.
Since its inception, ISG has expanded to three California office locations in Los Angeles, Orange County and San Francisco. ISG has also been engaged in matters throughout Oregon, Washington, Nevada, Wyoming, Arizona, Utah, Idaho, New Mexico, Pennsylvania, New York, Illinois and Delaware. Fiduciary roles have included companies located in Mexico, Shanghai, Canada and the United Kingdom.